Public Information

NOTICE OF PUBLIC MEETING

As per Section 606(2) of the Municipal Government Act:

TAKE NOTICE that the Council of the Village of Forestburg, in the Province of Alberta, has given first reading to borrowing bylaw 7:2014 which will, upon final passage and approval, authorizes the Village to borrow monies from the Alberta Capital Finance Authority by way of debenture issue, to pay for the cost of a new water treatment plant to be constructed within the limits of the Village of Forestburg.

The total cost of the project amounts to $3,000,000.  After deducting from this cost the amount of $1,687,500 to be received by way of grants and $179,000 to be taken from municipal reserves, the net amount to be borrowed on the credit and security of the Village by issue of debentures is $1,133,500.

The debentures are to be repayable to the Alberta Capital Finance Authority or another authorized financial institution, according to the repayment structure in effect, namely:

Two semi-annual payments of combined principal and interest not to exceed 20 years calculated at a rate not exceeding the interest rate fixed by the Alberta Capital Finance Authority or another authorized financial institution on the date of borrowing, and not to exceed 5%.

NOW THEREFORE NOTICE is hereby given that the Council of the Village of Forestburg has called for a public meeting to be held on Wednesday, August 20, 2014 at 6:30 pm in the Village of Forestburg Council Chambers, 4902 – 50 Street.  Any person affected by this borrowing bylaw is invited to attend the public meeting and bring forward any comments or concerns regarding this borrowing, at that time.

DATED at the Village of Forestburg, in the Province of Alberta, this 24th day of July, 2014.

                                                                                    Debra A. Moffatt, CAO

                                                                                    Village of Forestburg

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